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All Journal Anggaran: Jurnal Publikasi Ekonomi dan Akuntansi
Cut Anjani
Sekolah Tinggi Ilmu Manajemen Sukma Medan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Pengaruh Fear of Missing Out (FOMO), Literasi Keuangan, dan Persepsi Risiko terhadap Keputusan Investasi Saham dan Tingkat Kepercayaan Diri Investor pada Generasi Z di Kota Medan Cut Anjani; Ahmad Albar Tanjung
Anggaran : Jurnal Publikasi Ekonomi dan Akuntansi Vol. 4 No. 3 (2026): September : Anggaran : Jurnal Publikasi Ekonomi dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/anggaran.v4i3.2533

Abstract

  This study aims to analyze the effects of Fear of Missing Out (FOMO), Financial Literacy, and Risk Perception on Stock Investment Decisions and Investor Confidence among Generation Z in Medan City. This quantitative study uses Structural Equation Modeling based on Partial Least Squares (SEM-PLS) with SmartPLS 4. The sample consisted of 200 respondents selected through purposive sampling, with criteria of residing in Medan City and having observed or monitored the stock market. Data were collected using an online questionnaire with a 5-point Likert scale. The results indicate that FOMO has a positive and significant effect on Investor Confidence (path coefficient = 0.353) and Investment Decisions (path coefficient = 0.319). Financial Literacy also has a positive and significant effect on Investor Confidence (path coefficient = 0.562) and Investment Decisions (path coefficient = 0.581). Meanwhile, Risk Perception has no significant effect on Investor Confidence (path coefficient = −0.117) or Investment Decisions (path coefficient = −0.021). The model demonstrates strong predictive capability with R-Square values of 0.529 for Investor Confidence and 0.591 for Investment Decisions. The study concludes that FOMO and Financial Literacy are key factors influencing Generation Z’s confidence and stock investment decisions, while Risk Perception does not significantly contribute.
Co-Authors Ahmad Albar Tanjung